MILFORD, Mass. — Waters Corporation (NYSE:WAT) reported today second quarter 2012 sales of $451 million, an increase of 1% over sales of $448 million in the second quarter of 2011. Foreign currency translation decreased sales growth by 3%. On a GAAP basis, earnings per diluted share (E.P.S.) for the second quarter were $1.09 compared to $1.07 for the second quarter in 2011. On a non-GAAP basis, E.P.S. were up 8% to $1.17 in the second quarter of 2012 from $1.08 in the second quarter of 2011. A reconciliation of GAAP to non-GAAP E.P.S. is attached.

Through the first six months of 2012, sales for the Company were $872 million, slightly less than sales of $875 million in the first six months of 2011. Foreign currency translation decreased sales growth during the first half of 2012 by 2%. E.P.S. for the first six months of 2012 were $2.08 compared to $2.09 for the comparable period in 2011. On a non-GAAP basis and including adjustments on the attached reconciliation, E.P.S. grew 2% in the first six months of 2012 to $2.17 from $2.12 in 2011.

Commenting on the quarter, Douglas Berthiaume, Chairman, President and Chief Executive Officer said, “Operational efficiency allowed us to achieve our profitability objectives in light of challenging market conditions associated with a generally weaker global economic environment.”

As communicated in a prior press release, Waters Corporation will webcast its second quarter 2012 financial results conference call this morning, July 24, 2012 at 8:30 a.m. eastern time. To listen to the call, connect to https://www.waters.com, choose “Investors” and click on the Live Webcast. A replay of the call will be available through July 31, 2012, similarly by webcast and also by phone at 402-220-5218.

About Waters Corporation:

For over 50 years, Waters Corporation (NYSE:WAT) has created business advantages for laboratory-dependent organizations by delivering practical and sustainable innovation to enable significant advancements in such areas as healthcare delivery, environmental management, food safety, and water quality worldwide.

Pioneering a connected portfolio of separations science, laboratory information management, mass spectrometry and thermal analysis, Waters technology breakthroughs and laboratory solutions provide an enduring platform for customer success.

With revenue of $1.85 billion in 2011 and 5,700 employees, Waters is driving scientific discovery and operational excellence for customers worldwide.

Waters Corporation and Subsidiaries

Quarterly Reconciliation of GAAP to Adjusted Non-GAAP Financials

(in thousands, except per share data)

The 2012 and 2011 adjusted amounts presented below are used by the management of the Company to measure operating performance with prior periods and forecasts and are not in accordance with generally accepted accounting principles (GAAP). The Company believes that the use of Non-GAAP measures, such as Non-GAAP Earnings Per Share (E.P.S.) and Non-GAAP Operating Income, help management and investors gain a better understanding of our core operating results and future prospects, and is consistent with how management measures compensation and forecasts the Company’s performance. The reconciliation identifies items management has excluded as non-operational transactions. Management has excluded the following items:

* Purchased Intangibles Amortization and Step-up Expenses were excluded to allow for comparisons of operating results that are consistent over periods of time.

* Restructuring Costs, Asset Impairments and Acquisition-Related Costs were excluded as the Company believes that costs to consolidate operations, reduce overhead and to complete acquisitions are not indicative of normal operating costs.

* Non?Income Tax Audit Settlement Provision and Litigation Provision were excluded as these costs are isolated, unpredictable and not expected to recur regularly.

* One?time Income Tax Benefit was excluded as these costs and benefits are not indicative of the Company’s normal or future income tax expense.